Take-over is always a definite possibility and IGO as you know has the con on that. IGO also now have 100% of the cash required to do it -why haven’t they?
What we know about MRX: 1) $15 mil in cash 2) $25 mil tax credit 3) Mcap fully diluted $32 mil
You don’t have to be Einstein to work out the value in tax credits and cash alone. IGO still has a blocking stake, which brings us back to the original question why they’ve not gone for a take-over yet? IGO haven’t sold any and you would assume that if they wanted to, now would be the perfect time to sell (end of financial year write-off). Maybe IGO will do nothing and leave it as an investment and if MRX come up with anything substantial a move will be made?
I don’t have the answer; you will have to get yourself on the board at IGO -lol. I would love to sit in on one of those meetings. I wouldn’t be surprised if we see some board strengthening as WMC employees need a new home, sorry I am getting away from the subject. Now, maybe a bid will be made in the New Year?
As far as drilling we are long overdue for results. The turn around these days is a lot longer and there is lots of backlog, so it could be sometime.
At these prices MRX is a good buy, MRX management is on thin ice and will stay there after their BFS disaster earlier in the year.
Good luck I hold and am buying around 5.5c
LSM
P.S I know nothing. So decision making should be made with professional advice. Wild speculators such as me should always be followed by your own DD!
MRX Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
